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ARTICLE · 14 FEBRUARY 2022

Three States Adopt Continuing Education Requirements For Investment Advisers Based On NASAA Model Rule

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NASAA last updated FAQs on the rule in October, 2021.

United StatesConsumer Protection
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Maryland, Mississippi and Vermont adopted  continuing education requirements for investment adviser representatives based on the North American Securities Administrators Association ("NASAA") Model Rule.

NASAA stated that these states were the first to require "state-registered and federal covered investment adviser representatives to complete annual continuing education requirements for calendar year 2022."

As previously covered, the Model Rule, adopted by NASAA in November 2020, is intended to:

  • "ensure continued competency by IARs" and expand their knowledge base;
  • maintain flexibility in IAR continuing education content;
  • minimize (i) duplicative continuing education requirements, (ii) compliance burdens, and (iii) the cost to complete continuing education; and

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